Shares of Cienea Corp. (CIEN)jumped more than 15 percent after the communications equipment maker posted profit and sales for the quarter that beat analystsâ€™ estimates, and raised its outlook for the next quarter.
Net profit for Ciena's fiscal second quarter, ended April 30, was $13 million, or 14 cents per share, compared with a loss of $1.9 million, or 2 cents per share, a year earlier. Excluding some costs for stock compensation, profit was 26 cents a share.
Sales rose to $193.5 million from $131.2 million in the year-ago quarter.
Analysts polled by Reuters Estimates had estimated a profit of 13 cents with revenue of $180 million.
Ciena raised its fiscal 2007 revenue growth forecast to 36 percent from a previous 27 percent to 30 percent. It also expects third-quarter revenue to grow up to 5 percent sequentially.
Shares of Ciena rose $4.13, or 14.1 percent, to $33.43 in mid-day trading.